Wells and JPMorgan expose BofA’s $7 bln challenge

October 14, 2015

Brian Moynihan’s bank needs to earn that much in extra annual profit for a 10 pct return on equity. Cost cuts to match Wells-type efficiency wouldn’t quite do it. And Jamie Dimon’s outfit has fair returns even on falling revenue. Only a rate hike might get BofA over the line.

New Morgan Stanley woe is a drama lacking a crisis

October 3, 2011

Morgan Stanley’s October woes feel like a drama lacking a crisis. The Wall Street firm, which three years ago suffered a bank run, was already facing skepticism about its turnaround before the third quarter turned crummy. But that’s not behind its latest misery.

Madoff trustee has nothing to lose gunning for JPM

December 2, 2010

Irving Picard's decision to lob a $6.4 billion lawsuit in JPMorgan's path might smack of desperation. But, the trustee responsible for recovering assets for victims of Bernie Madoff's gargantuan Ponzi scheme has nothing to lose.

What ING, Erste say about capital raising

October 30, 2009

Both ING and Erste Bank have unveiled rights issues this week but neither yet has any guarantee of the price that they will get for their shares. This shows that -- despite the stock market rally and the apparently insatiable appetite for fresh bank equity -- investors are still jittery.

Winters ouster has eerie echoes of Citi

September 30, 2009

Has JPMorgan's Jamie Dimon done to Bill Winters what Sandy Weill did to him at Citigroup just over a decade ago? There are certainly eerie parallels. One can only hope for JPMorgan's sake that the consequences are different.

Cazenove’s yield may muddy JP Morgan deal

September 23, 2009

Five years after Cazenove poured its investment banking business into a joint venture with the U.S. bank, JP Morgan, it has to decide whether to sell the remainder -- or to hang on.